MDEV
First Trust Indxx Medical Devices ETF
MDEV tracks an equal-weighted index that gives global exposure to the medical equipment industry.
Fund Basics
| Fund sponsor | First Trust |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 22, 2021 |
| Assets (mns) | $3 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| DEXCOM INC | 2.6 % |
| INSULET CORP | 2.6 % |
| TERUMO CORP | 2.3 % |
| MASIMO CORPORATION | 2.2 % |
| PENUMBRA, INC. | 2.1 % |
| CARL ZEISS MEDITEC AG | 2.1 % |
| SONOVA HOLDING AG-REG | 2.1 % |
| INTUITIVE SURGICAL INC | 2.1 % |
| TELEFLEX INC | 2.1 % |
| STRYKER CORP | 2.1 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 196 |
| Wgt avg mkt cap (mns) | $32,972 |
| Large cap (>$10bn) | 70.9% |
| Mid cap ($2-10bn) | 27.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.1% |
| Emerging mkts. | 2.0% |
Country Exposure
 |
UNITED STATES | 58.3 % |
 |
JAPAN | 8.2 % |
 |
SWITZERLAND | 5.8 % |
 |
GERMANY | 4.2 % |
 |
FRANCE | 4.0 % |
 |
DENMARK | 4.0 % |
 |
IRELAND | 3.6 % |
 |
BRITAIN | 2.1 % |
 |
NETHERLANDS | 2.1 % |
 |
NEW ZEALAND | 2.0 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -0.8% | -1.5% | -- | -- | -- | -- | -10.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.09 | 79% |
| MSCI EAFE | 1.18 | 89% |
| MSCI Emg Mkts | 0.88 | 54% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.32% |
| ADV of underlying (mns) | $3,225 |
Technical Indicators
| Recent close | $18.60 |
| 30d moving avg. | $17.38 |
| Annualized volatility | 25.4% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 3.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MDEV |
Expenses vs. MDEV |
ALTAR Score™ vs. MDEV |
|---|---|---|---|---|
| HTEC | ROBO Global Healthcare Technology & Innovation ETF | 42.7% | -2 bp | -2.6% |
| RSPH | Invesco S&P 500 Equal Weight Health Care ETF | 41.9% | -30 bp | +3.7% |
| XHE | SPDR S&P Health Care Equipment ETF | 36.2% | -35 bp | -3.3% |
| IHI | iShares U.S. Medical Devices ETF | 33.5% | -30 bp | +0.1% |
| GDOC | Goldman Sachs Future Health Care Equity ETF | 31.4% | +5 bp | -1.1% |
| AGNG | Global X Aging Population ETF | 24.1% | -20 bp | -0.2% |
| XLV | Health Care Select Sector SPDR Fund | 23.2% | -60 bp | +3.5% |
| IYH | iShares U.S. Healthcare ETF | 22.6% | -30 bp | +2.5% |
| VHT | Vanguard Health Care Index Fund | 22.0% | -60 bp | +1.9% |
| FHLC | Fidelity MSCI Health Care Index ETF | 22.0% | -62 bp | +2.0% |
Risk and Returns: MDEV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/6/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MDEV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
MDEV
4.1%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.1% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 343 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
5.1%. MDEV's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places MDEV in the 54th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MDEV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MDEV | 70.0 | 32.2 | 102.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .